Chagrin Falls, OH Cost of Living

Chagrin Falls cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

An overview of the general cost of living index for Chagrin Falls, OH is displayed above for your reference. Residents in Chagrin Falls, OH enjoy a cost of living index of 124. This index is 36% higher than the Ohio average, and 24% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Chagrin Falls, OH, the average cost of goods and services is 7% higher than it is in Ohio, and it is 6% higher than the national average.

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How would you rate the cost of living in Chagrin Falls?Excellent. Goods, services and housing are all very affordable.Good. Most goods and services are affordable.Poor. Everything is more expensive than I'd like.Awful. You'll have to take out a loan to live here.View resultsWrite a review to give others more information about this area.Is the cost of living increasing or decreasing in Chagrin Falls?Decreasing rapidly. Costs are dropping at a rapid rate.Decreasing steadily. Costs of goods and services are declining.Increasing steadily. Price are inreasing, but at a reasonable rate.Increasing rapidly. I can barely keep up with the increasing prices.View resultsWrite a review to give others more information about this area.

Did you know?

The cost of living in Chagrin Falls is 36% higher than the Ohio average.

The cost of living in Chagrin Falls is 24% higher than the national average.

The cost of housing in Chagrin Falls is 66% higher than the national average.

Compare Chagrin Falls, OH Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator is used in order to provide a comparison of your current salary in Chagrin Falls, OH to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Chagrin Falls, OH, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Chagrin Falls, OH salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$114,122

$9,510

$2,663

$3,424

Renters

$39,180

$3,265

$914

$1,176

The affordability of the housing market in Chagrin Falls, OH as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Chagrin Falls, OH homeowners, the median income is $114,122. This indicates that a monthly maximum of $2,663 should be spent by homeowners on all housing related costs. Renters have a median income of $39,180. This indicates that renters should have a maximum of $914 used for their rent related monthly costs.

Ohio Sales Tax

State

General Sales Tax

With Max Surtax

Ohio

5.75%

8%

Ohio Income Tax

State

Income Tax (Low)

Income Tax (High)

Ohio

0.5%

5%

When assessing the complete cost of living in Chagrin Falls, OH, the Ohio income tax and the Ohio sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Ohio maximum surtax is 8%, and the Ohio sales tax is 5.75%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0.5% to 5% in Ohio.

Goods & Services

Item

Chagrin Falls

National avg.

Difference

Haircut

$17.33

$16.09

7.8%

Beauty Salon

$36.88

$37.33

1.2%

Toothpaste

$2.63

$2.45

7.6%

Shampoo

$0.99

$1.00

0.7%

Movie

$10.63

$10.28

3.4%

Bowling

$4.78

$4.93

3.1%

Groceries

Item

Chagrin Falls

National avg.

Difference

Ground Beef

$5.03

$3.80

32.2%

Fried Chicken

$2.05

$1.40

46.8%

Milk

$1.88

$2.01

6.2%

Potatoes

$2.47

$3.01

18.1%

Pizza

$10.49

$9.89

6.1%

Beer

$8.16

$8.90

8.3%

Health Care

Item

Chagrin Falls

National avg.

Difference

Optometrist

$80.26

$102.16

21.4%

Doctor

$110.20

$108.36

1.7%

Dentist

$90.67

$92.53

2.0%

Ibuprofen

$10.33

$9.28

11.4%

Lipitor

$460.86

$425.82

8.2%

Housing

Item

Chagrin Falls

National avg.

Difference

Home Price

$328,100.00

$184,700.00

77.6%

Avg. Mortgage Payment

$1,011.93

$1,202.44

15.8%

Apartment Rent

$1,309.00

$949.00

37.9%

Transportation

Item

Chagrin Falls

National avg.

Difference

Gasoline

$2.24

$2.24

0.3%

Tire Balancing

$50.35

$46.29

8.8%

Utilities

Item

Chagrin Falls

National avg.

Difference

All Electricity

$157.80

$165.96

4.9%

Phone

$33.53

$28.68

16.9%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.